 "NSE, national stock exchange, nifty50")
Equity benchmark indices are likely to open with minor cuts on Thursday tracking tepidness across global markets. As indicated by the SGX Nifty, which was quoting at 17,783 levels, the Nifty index may open around 50 points lower.
The US equity futures inched higher this morning, ahead of quarterly earnings reports from top financial names. Dow Jones Futures, NASDAQ Futures, and the S&P 500 Futures gained up to 0.2 per cent.
Asia-Pacific markets, meanwhile, were mixed this morning, with the S&P 200, Shanghai Composite, and Topix indices advancing up to 0.3 per cent. In contrast, Nikkei 225, Kospi, and Hang Seng indices slipped up to 0.4 per cent.
Meanwhile, here are some stocks to watch out in trade today:
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Infosys: The company delivered a weak performance in Q4 as its profit declined 6.9 per cent on a sequential basis, while revenue dropped 2.3 per cent QoQ. The company missed Bloomberg estimates on both revenue growth and net profit. Bloomberg had estimated revenue to be Rs 38,769 crore and net income to be at Rs 6,612 crore. Further, its weak FY24 guidance has led to rating downgrades by leading brokerages.
HDFC Bank: The private sector lender reported a 19.8 per cent on year increase in its net profit to Rs 12,047 crore on the back of strong loan growth. Net interest income (interest earned less interest expended) for the quarter grew by 23.7 per cent to Rs 23,351.8 crore.
Tata Motors: The company on Friday said it will increase prices of its passenger vehicles from May 1 to partially offset the increase in input costs. The weighted average increase will be 0.6 per cent, depending on the variant and model. This will be its second price hike for its PVs after February’s increase.
Zee Entertainment: As per CNBC-TV18, Oppenheimer is expected to sell a 5.65 per cent stake in the company via block deals today. The offer size for the stake sale is said to be around Rs 1130 crore at a price of Rs 199.8-208.15 a share.
Max Healthcare: The company completed the acquisition of additional 34,000 shares of Eqova Healthcare for Rs 68.87 crore, taking its shareholding from 26 per cent to 60 per cent.
Brightcom Group: SEBI found that the company overstated profit after tax for fiscals 2019 and 2020 by more than Rs 1,280 crore. The regulator has ordered the company to publish correct shareholding pattern, and its managing director and directors not to sell their shares.
RIL: Viacom18, a subsidiary of the company, has closed the merger of Reliance Storage with itself and integrated the OTT platform JioCinema. Viacom18 allotted shares to RIL group entities and Bodhi Tree Systems as consideration for the scheme of merger.
KIOCL: The company has received two mineral exploration projects in Karnataka for Rs 1.48 crore and Rs 2.33 crore each.
HCL Technologies: Anand Birje, head of Digital Business Services, has resigned from the company to pursue another opportunity.
Torrent Power: The company has appointed Saurabh Mashruwala as the chief financial officer (CFO), effective April 14, 2023, after the resignation of Lalit Malik from the post.
Jindal Stainless: ELM Park Fund has acquired additional 3.45 crore shares or 4.19 per cent stake in the company from the open market. With this, the former’s stake has increased from 2.31 per cent to 6.51 per cent.
VA Tech Wabag: The firm has sold its step-down subsidiary Wabag Switzerland for CHF 4.85 Million. It said this was done as part of the business strategy to optimize the group’s structure and in line with the strategic focus to reduce our exposure to European Geographies.
Elin Electronics: Board has approved the launch of 16 new products including new fans, motor and Juicer grinders.
Transformers and Rectifiers (India): The company said it has been awarded orders of Transformers for a total contract value of Rs 192 crore from one of the Central utilities. With this order, the company’s order book stands at Rs 1691 crore.
Orissa Bengal Carrier: The company has entered into a contract for the transportation of 35,000 tonnes of materials of Jindal Steel & Power Limited.
Sarda Energy & Minerals: After rectification of deviation from mining plan as observed by the Indian Bureau of Mines, post inspection, the order for suspending the company’s mining operations at its iron ore mines has been revoked with immediate effect.
Sprayking Agro Equipment: It has fixed April 25 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares.
Muthoot Finance: The company has completed the pre-payment of external commercial borrowings to the tune of $225 million on April 13, 2023. Consequent upon the pre-payment of the external commercial borrowings, the company has initiated steps for cancellation of the Senior Secured Notes issued under the GMTN Programme and listed on the International Securities Market of the London Stock Exchange.
PCBL: The company has commenced commercial production of the first phase (63,000 MT) of the 147,000 MT Greenfield carbon black manufacturing facility in the state of Tamil Nadu.
Ugar Sugar Works: The company has started the operations of 250 KLPD (out of existing 845 KLPD) grain based distillery at Ugar Plant during off-season.
